New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-01-27
WORK OF MUTUAL RESERVE FUND.
SIX YEARS OF GROWTH AND PROGRESS.

Association in the Potter Building crowded yeser
day afternoon with members who had come from all
parts OF the United States and Canada attend the
nual meeting. Reports were read which covered every
branch OF the work. and every department pro-
nounced be in a healthy condition. while the growth
OF the associations business declared to be unpre
cedented After the secretary. +. T. Braman had read
the call for the meeting the president. b. Harper
made his annual report. He said in substance:
GENTLEMEN: This association egins the seventh year
OF Its existence under the most suspicious circumstances
The trumpa march OF the society has excited the
of enemies and the admiration of friends During
the association has been tried and again am able
to report that 1t has not been found wanting An exam
or ne% business in lsss exceeded
than 5O000Oo OF which was received from the state
OF New York This amount IL the largest obtained
one vea T and Sxcess the entire business Of
tiers OF all the Ncw-York level premium companies
m noss hsS sG;S fh sSaG win
and OF deceased members within the
last twelve months 81 llo,l4o and close the year
with 81 900 OF assets nearly $llO0000 OF which Is
our cash tontine reserve fund exceeds 100000 We
enter the year OF 1887 with a surplus OF more than
81 100000 The total cash actually saved TO MEM
pared OF the level premium companies for
the amount OF insurance and at the same age for
show credit to the members of the 1881 class
equal to dividend of thirty and onehrd cent
first five years membership IN this association.
our, total number II certificates issued
saraHcs written Of s22l 100000 Although receiving
our income persons residing In ny-eght states,
dollar has been lost through fraud defalcation
The old line companies have not watched success
with eQanmity They seek 10 injure us by the circa-
ton baselcss charges to OF which may properly
here reply These charges arc first that our expenses
OF level premium concerns; secondly. that II were
honest our expenses would be no greater than those OF
BY examination OF the sworn Insurance report OF New
received S ' s sS OF on
each $1,000 OF insurance In force; while the Mutual
81 900 OF Insurance In force. The level premium com
panes expended 50 Al for expenses alone for each
y SO
in force For salaries the level premium concerns ex
while the Mutual Reserve Fund expended for the same
tom but fifty cents upon each 81, 900 In force
ana those S"V Of the knights of Honor arc known
laws Of the state OF SewYork exempt the local lodges
from making reports to the Insurance Department and
The Of the Knights OF Honor at ST. Louis. As
the Supreme Lodge receives reports from the local lodges
only Of the moneys collected for mortuary premiums.
therefore the report OF the Supreme Lodge TO the lnsur
ance Department includes but this one item.
The second charge Ia which shall reply that relating
TO the ability OF our society to pay II, death osse. In tho
creasng mortality In reply would state that there is
good reason why what has happened In the past should
not happen future Indeed. there
why a company doing business upon the system OF the
Mutual Reserve Fund Association should expert
under the system OF the level premium
Companies; So for the reason that the payments
made by the members OF the level premium companies
aud their system Of giving paid policies for portion
OF the payments required compel their aged
while with us should the object Of the insurance cease
by of the death of the wife or children. the
payment Of the creditors member would terminate
his insurance with comparatively little loss to HIM
self.
Among the many documents circulated by the level
premium companies against this association those
charging that our lapses are enorInous To show the
fasty Of this statement although recognizing that II Is
expected that the examinations IN lie insurance |
ORGANIZATIONS other than by death will
as great the examinations by DEATH yet find
teriraons Of the level premium companies reporting TO
the New;Yor. Insurance Company for 1883 were per
OF the total amount Of their business In 1854.
Sc per cent lss S9 per cent iSo2 o. per cent and IN
examinations IN the Mutual Reserve Fund for ss6
but 20 per cent for ss5 20 per cent for 1854 20
Among other charges made by the level premium con
rlas in full and promptly yet our reports show that we
have paid to the widows and orphans during the last
.hows that We begiu the new year with "a |
be- end OF s aSo"sn %S had much ,A1a
Of business In force at the end than AT the begin
within tie twelve months long before they due
d" NOT oppose the level premium companies because
heir income four times great their death claims
They should have right 10 meet rs In fair open cOmpe
iton aud let the people choose which system they will
nave
The report was received with applause AMI the
reports from the various departments. which followed,
greeted in the way. The report Of the auditors
contains the following:
We have examined the subject Of resisted claims aud
end that no honest claims arc resisted and no resistance
Is made for trivial reasons; but large pro
forty days before maturity. In many case,
advances have been made 10 heirs Immediately upon
ntary, but for selfpreservaton A examples: In
Instance suit was begun against this association
more than six months before his death An.
other where through the Of our encinos
ally destroyed his certificate. heirs after his death
began suit TO recover the amount OF said certificate
category of resstcd claims Nothing remains for the
honestly conducted association 10 do but to resist such
pretended claims. The large extent business.
aud the endeavors Of impostcrs Ia foi-t fraudu-
ne Officer 10 be Constantly on the alert 10 tgi mr.,
payment OF your money To designing people
This report Is signed by John J. Acker and Samuel w.
Wray
There were three directors whose terms had expired
md whose places TO be filled. They were Henry
Dberstoz. xMayor OF IT Louis and president OF the
Fih National Bank OF that city; william H. Brown of
and a. y. Brady, of Albany. These gentlemen
we're all reelected amid great applause, Tor another
Term Of four years.
rom Canada where the success OF the Mutual Reserve
Fund has been most encouraging Walling Kennedy of
Toronto made an interesting address saying that j. ID.
Wells. the Canadian agent mad written more Insurance
han other agent In the Dominion. Mr. Wells II WAS
ater announced had gahe the nrst prize Of 500, Of
cred to the agent who turned over the greatest amount
Of new business during the year Mr. Weiss business
amounted to Tt,SJj,OOO X. g. Jones. Of New York re-
cived another prize OF the tn tho
who personally wrote the greatest amount of in
In the company. Mr.. Jones hat pcr,onally
written insurance To the amount OF 1907 900 Other
prizes also announced and many congratnlatorv
speeches made II late In the afternoon when
Inc meeting broke up.
STXTTSTX COMPLAINTS AGAINST AN OFFTCEB
Police Commissioner French yesterday listened
against policemen who accused Of vario,,
DIences January 10. Policeman &C. OF the ,lurch.
slusd accused OF being drunk but showed that n,
hal suffered from the effects OF large of auinp. md
morphine prescribed by friendly drug clerk poi ',man